Smart Nation Initiative to Drive Singapore Internet of Things Market
Growth in adoption of smart devices and
applications, increasing number of connected devices and government initiatives
to drive Singapore IoT market through 2023
According
to TechSci Research report, “Singapore
Internet of Things (IoT) Market By Platform, By Component, By Application,
Competition Forecast & Opportunities, 2013 – 2023’’, IoT market in Singapore is projected to grow at a CAGR of more
than 20% during 2018 - 2023. The government’s increasing focus on Smart Nation Project,
growing demand for smart home applications and devices, increasing number of technological
advancements coupled with strong demand for big data analytics and cloud
services would propel the country’s Internet of Things market in the coming
years. Additionally, increasing
smartphone user base and internet penetration is boosting the number of
connected devices across the country, thus driving the country’s IoT market.
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27 market data Figures spread through 88 Pages and an in-depth TOC on
"Singapore IoT Market" https://www.techsciresearch.com/report/singapore-internet-of-things-market/3046.html
IBM Singapore Pte. Ltd., Intel
Technology Asia Pte Ltd, Cisco Systems Singapore, and Singapore
Telecommunications Limited are among the major companies operating in Singapore
IoT market. North-East region
accounted for the largest revenue share in 2017 and is anticipated to maintain
its market dominance during the forecast period as well, on the back of
increasing presence of IoT enablers as well as IT and semiconductor hubs in the
region. North-East region is also witnessing huge adoption of emerging
technologies. With growing demand for IoT components in Singapore, their
deployment is also gaining momentum across various applications. Hardware
components dominated the country’s IoT market, owing to declining cost of sensors
and other hardware components required for communication of various devices
within the network.
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“Smart manufacturing refers to the enhancement
of productivity and efficiency of manufacturing operations through IoT devices
and applications. It involves integration of sensors into traditional
manufacturing equipment and making the use of latest manufacturing equipment
that comes with pre-installed IoT sensors. Over the next five years, adoption
of these smart manufacturing equipment is expected to increase across the
country, which would boost Singapore IoT market through 2023.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Singapore Internet
of Things (IoT) Market By Platform, By Component, By Application,
Competition Forecast & Opportunities, 2013 – 2023’’ has
evaluated the future growth potential of Singapore IoT market and provides
statistics and information on market size, structure and future market growth. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by Singapore IoT market.
About TechSci Research
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follow market trends.
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